Sonoco Implementing Price Increase for Uncoated Recycled Paperboard

Fourth Quarter Financial Highlights and Recent Events • Total revenue of $72.3 million, compared to $78.8 million in the fourth quarter of 2022. • Envelope segment revenue of $50.6 million, down from $60.7 million in the fourth quarter of 2022. • Packaging & Specialty Products segment revenue increased 20.2% to $21.7 million, from $18.1 million last year. • Net earnings were $0.7 million, compared to $6.7 million in the fourth quarter of 2022. • Solid free cash flow at $15.1 million, compared to $10.2 million in the fourth quarter of 2022. • Departure of the President of the Packaging and Specialty Products segment on October 17, 2023.

As consumers increasingly voice their environmental concerns, industries worldwide are actively seeking sustainable alternatives to reduce their carbon footprint. Not surprisingly, corrugated cardboard packaging has emerged as an environmentally sustainable choice, boasting benefits that other packaging materials simply can’t match. Reports and surveys, including a comprehensive life cycle assessment (LCA) recently published by the National Council for Air and Stream Improvement (NCASI) and the 2023 US Trend Tracker Survey commissioned by Two Sides North America, shed light on the environmental impact of cardboard packaging and illustrate why it is fast becoming the preferred choice of brands and consumers around the globe.

Xanita, the makers of sustainable fiberboard, launched the Xanita Board in the USA and Canada. Xanita Board is being brought to market through a partnership with Mohawk Fine Papers Inc. The partnership will entail Mohawk taking the position of master distributor for Xanita Board in the North American region. Mohawk will offer the full range of Xanita products and have stock available until the end of March 2018. “The U.S. is by far the biggest market in our category, and we’re thrilled to have a partner like Mohawk to help maximize our position in the market,” says James Beattie, CEO, Xanita.